Which is the best credit card?

credit-cards-smallEveryone wants to know what the best credit card is, but nobody wants to hear the real answer: there is NO best credit card, only the best credit card for you. Consider:

  • If you have a balance on your credit card, the best card for you is the one with the lowest interest rate.
  • If you pay your full balance every month, the best credit card for you is a rewards credit card, BUT…
  • The best rewards card for you depends on… you. Do you want airline miles, cash back or gift cards, points toward merchandise rewards, or some other rewards scheme?

See? There is no best credit card. But we are happy to give you our ideas on the top credit card or cards in various categories, in order to help you choose which card is best for you:

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Are You Better Off Filling Out An Online Credit Card Application or Waiting For Credit Card Applications In The Mail?

credit-cards-smallAt a previous job reporting on credit cards, I was chided by a rep from one card company for discussing the specifics of certain credit card offers, such as interest rate, rewards program terms, introductory rates, etc. His logic was this: the credit card offers that you see on the Internet are not necessarily the same as the credit card offers that come to your mailbox, so it was impossible to specify the terms for any particular card.

For example, you might go to one of the big banks’ Web sites and decide to apply for a rewards credit card only to get an offer in the mail days later that actually offers a better rewards formula. Or you might see an offer for a 0% rate on purchases for 6 months online, only to get a mail offer of 0% on card purchases for 12 months. Conversely, you might get rejected for a card offer online, only to get mail days later from the same company offering you the same card with slightly worse terms than the card you saw online.
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Review: BP Credit Cards

bp-credit-cardsBP Oil, in partnership with Synchrony Bank, offers 2 gas credit cards for consumers as well as 3 business credit cards. Our overview / review of the consumer cards is below, along with a quick synopsis of the business card choices.

Before talking about the specifics of each BP consumer credit card, it’s important to explain how the reward on these cards works. Instead of getting a cash rebate or reward points, the BP credit cards let you earn a per-gallon discount that you can use whenever you want. The amount of your discount is saved on the card, and you will see a message on the pump that tells you the amount of your rebate and asks whether you want to use it on that visit. (If your local grocery or warehouse store has a gas savings program based on your purchases, you might already be aware of this type of system.)
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Low Interest Credit Cards

cardsBelow is a listing of the lowest interest credit cards on the market today, with a link to the card’s page or online application. Note that some of these cards may offer a low rate, but may also use that rate to draw you in and then actually approve you at a higher rate. Below we have noted the lowest rate each card offers AND any higher rate you might get instead, if applicable. Also, we have only listed cards that have no annual fee.
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Credit Cards Issued by Synchrony Bank (formerly GE Capital Retail Bank)

synchrony-bank-logoSynchrony Bank (formerly GE Capital Retail Bank) is the bank that is “really” behind many of the most popular retail credit cards out there. This means that if you have one of these cards, it is Synchrony Bank that is extending you credit and it is Synchrony you will be dealing with in the future, not the company whose name is on the front of the card. Synchrony Bank credit cards include:

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Walmart Credit Card Payment, Login, and Customer Service Information

walmart-mastercardWalmart credit cards are issued in partnership with Synchrony Bank (formerly GE Capital Retail Bank), and it is Synchrony you will interact with when it comes to paying your bill online or by mail, or to get customer service assistance.

Below is all the information you need to complete any of these tasks:

  • To access your account and make a Walmart credit card payment online, you can log in here.

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Credit Cards Issued By Comenity Bank (formerly World Financial Network National Bank / WFNNB)

victorias_secret_credit_card2Comenity Bank (formerly World Financial Network National Bank, or WFNNB) is the company behind many retail store credit cards. When you become a credit card customer of J.Crew, Victoria’s Secret, or one of their other partner retailers, you actually become a customer of Comenity Bank, because Comenity is actually issuing the card. Comenity Bank credit cards include:

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0% Balance Transfer Credit Cards

zero-percent2If you have a significant balance on your current credit card, it makes sense to find a new credit card that will let you transfer that balance and let it sit at a 0% interest rate while you pay it off. The credit cards below all offer a zero percent balance transfer rate for a limited period of time and have no annual fee:
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Review: Kohl’s Credit Card

kohls_logoThe Kohl’s credit card is a credit card that can be used only for purchases at a Kohl’s department store or online at kohls.com. In almost every review of a department store credit card such as this, we would tell you that the card is only worth having if you pay off your full credit card balance each month. The reason is the exorbitant interest rates that store credit cards usually have — in the case of Kohl’s, that rate is 23.99%.
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Belk Credit Card Payment, Login, and Customer Service Information

belk-credit-cardThe Belk department store credit card is issued in partnership with Synchrony Bank (formerly known as GE Capital Retail Bank), and it is Synchrony you will interact with when paying your bill online or by mail, or when you need customer service help. Information on completing any of these tasks is below:

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Review: Hobby Lobby Credit Card

hobby-lobby-credit-cardThe very popular hobby and crafts store Hobby Lobby offers a Visa credit card that you can use to earn rewards toward future Hobby Lobby purchases. Our overview / review of the card is below:

The Hobby Lobby credit card can be used at Hobby Lobby stores as well as anywhere else Visa cards are accepted. This is a plus, because many retail credit cards can only be used at the specific retail chain, while this card is accepted almost anywhere.
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Rewards Credit Cards

citibank-double-cash-credit-cardWhen we talk about rewards credit cards, we are talking about any credit card that offers you something back in exchange for using it — the more you get back, the better. We also have a fondness for cards that have no annual fee. Below we have highlighted a list of popular rewards cards with a word or two about what each offers:
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Review: PGA Tour Credit Card

pga-tour-credit-cardThe PGA Tour offers fans a credit card that earns golf rewards and other rewards with each purchase. Our review/ overview of the PGA Tour card is below:

The PGA Tour BankAmericard Cash Rewards MasterCard offers a standard cash back rewards program but adds some goodies for golf fans. At the cash back level, you get:

  • 3% cash back on gas purchases
  • 2% cash back on groceries
  • 1% cash back on all other card purchases

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Review: Boscov’s Credit Card

boscovs-credit-cardRegional department store chain Boscov’s, in partnership with Capital One, offers a credit card that allows you to earn reward points toward future Boscov’s purchases. Our overview / review of the Boscov’s card is below:

The Boscov’s credit card is only accepted at Boscov’s stores, not at any other merchants. This limited acceptance is something to consider — do you shop at Boscov’s often enough to want to open a new credit line for purchases there?
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Travel Credit Cards

hyatt-credit-cardEarning free travel is incredibly attractive to most people, and many credit cards exist to help you kickstart your vacation funds.

However, choosing the best travel credit card is difficult, because everyone has different needs. For example, if you’re already earning airline miles from a particular airline, it makes sense to get a frequent flyer credit card from that same airline. Same with hotel credit cards. Piggyback on what you’re already earning based on your travels.
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